Debt / Worth Ratio. Borrower shall maintain a maximum ratio of Debt/Worth of 350%. The ratio "Debt/Worth" means Borrower's total liabilities divided by Borrower's Net Asset Value (as defined above). This required ratio must be maintained at all times and may be evaluated quarterly.”
Debt / Worth Ratio. At any time, permit the ratio of Consolidated Debt to Consolidated Effective Tangible Net Worth to be greater than 1.0 to 1.0.
Debt / Worth Ratio. Maintain a Debt/Worth Ratio, of not more than 6.00:1.00 at all times.
Debt / Worth Ratio. Maintain a ratio of Debt/Worth not in excess of 0.750 to 1.000. The ratio "Debt/Worth" means Borrower's Total Liabilities divided by Borrower's Tangible Net Worth.
Debt / Worth Ratio. Borrower to maintain a maximum ratio of Debt/Worth of 2.50 to 1.00. The ratio “Debt/Worth” means Borrower’s total liabilities. excluding debt subordinated to Lender, and divided by Borrowers Effective Tangible Net Worth This ratio must be maintained at all times and may be evaluated quarterly. The term “Effective Tangible Net Worth means Borrowers total assets excluding all intangible assets (I.e. goodwill, trademarks. patents, copyrights, organization expenses, and similar intangible items) and excluding due from related entities (eg. affiliates, employees, subsidiaries, shareholders. etc.). less total liabilities excluding debt subordinated to Lender.
Debt / Worth Ratio. Borrower shall at all times maintain a consolidated total liabilities, including debt fully subordinated to the Loan, to Consolidated Tangible Net Worth ratio of not more than 0.50 to 1.00. For purposes of this computation, "Consolidated Total Liabilities" shall mean all liabilities of Borrower and its Subsidiaries, including capitalized leases and all reserves for deferred taxes and other deferred sums appearing on the liabilities side of a balance sheet of Borrower and its Subsidiaries, in accordance with GAAP.
Debt / Worth Ratio. The ratio "Debt / Worth" means Borrower's Total Liabilities, excluding subordinated debt, divided by Borrower's Tangible Net Worth. THIS EXHIBIT "A" TO BUSINESS LOAN AGREEMENT IS EXECUTED ON JUNE 28, 2001. BORROWER VERSANT CORPORATION By: /s/ XXX XxXXXXX Xxx XxXxxxx, Chief Financial Officer of Versant Corporation LENDER: GREATER BAY BANK By: Authorized Signer Addendum to Business Loan Agreement Dated 06/28/01 as applicable, the definition of the following financial covenants and/or terms contained in this Business Loan Agreement are amended to read as follows: Quick Ratio: Defined as cash and equivalent plus 80% of eligble receivables divided by current liabilities (excluding deferred revenue). /s/ XXX XxXXXXX Xxx XxXxxxx, CFO of Versant Corporation
Debt / Worth Ratio. Borrower's covenant to maintain a ratio of Debt/Worth not in excess of 3.000 to 1.000 will be evaluated semi-annually.
Debt / Worth Ratio. At any time, permit the ratio of Consolidated Debt to Consolidated Effective Tangible Net Worth to be greater than 0.9 to 1.0.
Debt / Worth Ratio. The ratio "Debt / Worth" means Borrower's Total Liabilities, excluding subordinated debt, divided by Borrower's Tangible Net Worth. THIS EXHIBIT "A" TO BUSINESS LOAN AGREEMENT IS EXECUTED ON OCTOBER 19, 2001. BORROWER: NIKU CORPORATION By: Xxxxxx Xxxxxx, Chief Financial Officer of Niku Corporation LENDER: MID-PENINSULA BANK By: Authorized Signer PROMISSORY NOTE—Asset Based Loan Agreement Principal Loan Date Maturity Loan No. Call/Coll Account Officer Initials $5,000,000.00 10-19-2001 07-02-2002 2000 024 References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "***" has been omitted due to text length limitations. Borrower: Niku Corporation 000 Xxxxxxxxxx Xxx Xxxxxxx Xxxx, XX 00000 Lender: Mid-Peninsula Bank Palo Alto Main 000 Xxxxxx Xxxxxx Xxxx Xxxx, XX 00000 Principal Amount: $25,000,000.00 Rate: 7.000% Date of Note: October 19, 2001 PROMISE TO PAY. ON DEMAND BY LENDER OR, IF NO DEMAND IS MADE, THEN OTHERWISE IN ACCORDANCE WITH THE COVENANTS, TERMS AND CONDITIONS OF THIS NOTE, Niku Corporation ("Borrower") promises to pay to Mid-Peninsula Bank ("Lender"), or order, in lawful money of the United States of America, the lesser of (1) the principal amount of Five Million & 00/100 Dollars ($5,000,000.00) and (2) the unpaid principal amount of all Advances (as such term is defined in the Business Loan Agreement (Asset Based)) made by Lender to Borrower as Loans under the Business Loan Agreement (Asset Based). Borrower promises to pay interest on the unpaid outstanding principal balance of each Advance. Interest shall be calculated from the date of each advance until repayment of each Advance.
